by Linette Eady

Created on: March 23, 2008

The Real Estate Market will not rebound soon contrary to the false hope set forth by the media. Actually the Real Estate Market has not bottomed out as of yet. The media has reported the bad without offering any reasonable solution. Several viewpoints about this dilemma is that there should be no "Bail Out". The media reports that the consumer should have been more knowledgeable about the type of mortgages they were entering.

Well the Loan Officers, Lenders and Realtors are all looked upon as professional. The Loan Officers were presenting the creative financing and the lenders saw an opportunity to make extra money off victims that were not quite ready to purchase a home. As a result of the creative money-making products, this country is in grave economic trouble. The creative lending phase started several years ago and it will take longer than a year or two to correct the problems.

Before the real estate market can rebound the entire housing inventory needs to be re-appraised. This will result in everyone losing equity. The real value need to be accessed. The lenders do not need a "Bail Out" because their practices caused the problem.

There are too many people walking away from their homes. Investors are reaping and raping the economy by purchasing the foreclosed homes at 50% to 70% below market value, thus causing the further collapse of the real estate market. Lenders can not handle the foreclosed inventory, thus neighborhoods are in great despair. Swatters and the homeless are making their home in these vacant properties. Thieves are stealing copper, fireplace mantles, hand rails, light fixtures, furnances, hot water heaters and anything of value out of the homes.

This situation has created ghost towns throughout our country and we have not seen the bottom yet. Those of us that are not in foreclosure is losing equity. Along with the cost of gasoline, cost of food, lose of jobs, raise in crime, and corruption through our policitians and corporations; we have not bottomed out yet and the end to the real estate crisis will take another 4 to 5 years. So hold on if you can.

The homebuyers are facing tigher guidelines because of the past mistakes. The result is that the people wanting to buy a home to stablize a neighborhood is being punished by higher standards that don't take into account the ability to make the mortgage payment.

We are in for a long haul in this one.

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